Eurizon Capital SGR S.p.A. Makes New Investment in Steel Dynamics, Inc. $STLD

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Steel Dynamics during the fourth quarter, buying 98,759 shares worth about $16.7 million. The stake represented roughly 0.07% of the company.
• Steel Dynamics reported quarterly EPS of $2.78, just below expectations, on revenue of $5.20 billion, which also missed estimates. However, revenue was still up 19.1% year over year.
• The company raised its quarterly dividend to $0.53 per share, payable July 10, implying a 0.8% dividend yield. Meanwhile, several analysts turned more positive on STLD, with the consensus rating at Moderate Buy and an average price target of $219.36.

Eurizon Capital SGR S.p.A. purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 98,759 shares of the basic materials company's stock, valued at approximately $16,736,000. Eurizon Capital SGR S.p.A. owned about 0.07% of Steel Dynamics as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Life Cycle Investment Partners Ltd bought a new stake in Steel Dynamics during the fourth quarter worth about $586,702,000. Robeco Institutional Asset Management B.V. lifted its stake in Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company's stock worth $340,289,000 after purchasing an additional 72,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Steel Dynamics by 1.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company's stock worth $145,953,000 after purchasing an additional 10,537 shares during the last quarter. Bank of America Corp DE lifted its stake in Steel Dynamics by 34.7% during the second quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company's stock worth $131,715,000 after purchasing an additional 264,827 shares during the last quarter. Finally, Boston Partners bought a new stake in Steel Dynamics during the third quarter worth about $101,254,000. Institutional investors own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Miguel Alvarez sold 4,825 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 12,125 shares of company stock worth $2,751,227. Company insiders own 6.60% of the company's stock.

Steel Dynamics Price Performance

STLD opened at $260.15 on Monday. The company has a market cap of $37.65 billion, a P/E ratio of 27.82, a P/E/G ratio of 0.55 and a beta of 1.50. The business's 50-day moving average price is $210.75 and its 200-day moving average price is $188.75. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $263.09.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm's quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, equities analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics's payout ratio is currently 22.67%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STLD. Barclays began coverage on Steel Dynamics in a research note on Thursday, May 21st. They set an "overweight" rating and a $270.00 price target for the company. BMO Capital Markets lifted their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Weiss Ratings upgraded Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, April 29th. Finally, KeyCorp lifted their price objective on Steel Dynamics from $190.00 to $241.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $219.36.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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